Taxable
Income |
Total
Marginal Tax Rate |
|
$
0 - $9,600 * |
0.0% |
|
$9,600
- $36,020 * |
21.05% |
|
$36,021
- $37,885 |
24.15% |
|
$37,886
- $63,428 |
31.15% |
|
$63,429
- $72,041 |
32.98% |
|
$72,042
- $74,720 |
35.39% |
|
$74,721
- $75,769 |
39.41% |
|
$75,770
- $123,184 |
43.41% |
|
over
$123,184 |
46.41% |
The above information is for general interest purposes only. The table shows the tax rate within each given range of earnings. It is not a thoroughly detailed and precise presentation of every rate and variant, and should not be used for serious planning purposes. It presents Federal and Provincial rates in effect at January 1, 2008, and includes Ontario surtaxes.
CORPORATION INCOME TAX RATES (FEDERAL AND ONTARIO)
Federal
Rate |
Provincial |
Total
Tax Rate |
||||
| Canadian
Private, active business on income from $0 - $400,000 (* $400,000
for Ontario tax) |
11.00% |
*
5.5% |
16.5% |
|||
| General Active Business Income | 19.5% |
14.0% |
33.5% |
|||
| Investment income, before refundable amount ( ** ) | 34.7% |
14.0% |
48.7% |
|||
| All other situations | 19.5% |
14.0% |
33.5% |
The above table is for general interest purposes only. It is not a thoroughly detailed and precise presentation of every rate and variant, and should not be used for serious planning purposes. It presents Federal and Provincial rates in effect at January 1, 2008.
( ** ) A portion of tax paid at this higher rate is refundable at the time the corporation pays taxable dividends if income was earned from investments.
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